Letter from the Chief Executive Officer

The January 2025 logistics balance sheet provides us with important clues on how to face the coming months. I want to share with you a clear vision: recognize the difficulties, learn from them and plan the path that will lead us to position Logistics Express with leadership and strength.

Balance of the previous month

January has been a month marked by structural adjustments in supply chains, challenges at customs in Ceuta and Melilla and a global environment that remains tense. According to a sector analysis, chains are adapting to a new geopolitical situation, where trade blocs are redefining routes and markets. Supply Chain - January 2025 summary points out that the year-end campaign showed strength, but the beginning of 2025 drags typical cycle adjustments.

From the labor point of view, the year begins with a drop of more than 12,500 jobs in logistics, a trend that is usually observed in January due to the end of the Christmas campaign. Logistics CdeComunicación reports this retraction that affects suppliers, operators and the subcontracting chain.

In terms of real estate and logistics expansion, there are already signs of stabilization: the development of 5.5 million m² of warehouses has been postponed in some areas, due to the rising cost of land and financing difficulties. Idealista - logistics report

In addition, January saw the appearance of logistics projects announced for 2025: new automated platforms, technological benefits, regional expansion. CdeComunicación Logistics highlights these initiatives that signal the sector's pulse towards modernization.

Impact on Logistics Express

These movements are not abstract: they resonate in every operation we run. In logistics, real-time visibility becomes key; our investment in IoT systems and traceability has allowed us to mitigate delays and anticipate bottlenecks. Novocargo - logistics trends 2025 highlights this need.

We have reinforced internal protocols in the face of labor fluctuations: temporary staff adjustments, operational flexibility and continuous training to guarantee continuity during peaks. We have also optimized fleet routes, prioritized critical shipments and activated contingency plans in high-stress areas.

Ceuta

Ceuta continues to go through an uncertain scenario in customs matters. Although the official commitment indicated that commercial customs would open on January 8, once again technical problems prevented it. El Independiente - Ceuta y Melilla reports the unease in the local productive fabric due to this delay.

On the border with Morocco, political trust is put to the test: we note that the reopening remained in promises and declarations, without firm operational steps. The Objective - Customs frustration addresses the episode.

For our local operations, this requires managing greater documentary uncertainty, prioritizing alternative maritime routes and providing support to customers who depend on the Ceuta-Morocco crossing. We will maintain political and operational vigilance to anticipate each possible opening.

Melilla

In Melilla we did see a breakthrough: the customs office registered the first crossing of goods in the initial phase to Morocco. Europa Press - Melilla customs

This symbolic action represents a technical step towards trade normalization. But we must preserve expectations: the volume is still low and the customs system needs to be robust to function smoothly.

For Logistics Express, Melilla represents an opportunity to lead regional operations. We will prepare consolidated routes, advance document coordination and local logistics support to capture this new trade flow.

Gibraltar

Gibraltar did not make headlines in January, but the border agreements between Spain, the UK and the EU continue to be under review. Pending customs adjustments and border controls may have an impact on traders and transit of goods between mainland Spain and the Rock.

We remain vigilant: any regulatory changes could affect our routes and customs procedures in the border area. We will evaluate rapid adaptation scenarios.

Balearic and Canary Islands

One of the most striking movements that could already be seen in January is the operation announced between Baleària and Naviera Armas. Although the full operational effects were not yet finalized in January, this reorganization of the shipping company opens a new competitive phase on island routes.

For our routes to the Balearic and Canary Islands, the change represents an opportunity - optimization of combined routes, new stopovers and alliances - but also a risk of fare concentration or competition with strong market power. We will be vigilant to negotiate advantageous conditions.

Personal and business vision

This beginning of the year reaffirms my conviction that logistics companies cannot survive by reacting: we need to anticipate, structure and execute with firmness. External fluctuations may shake us, but they are also areas of opportunity for those who are best prepared.

As CEO, I want you to feel that you are talking to someone who understands the challenges of the field, who does not hide the difficulties and who has a practical, concrete and demanding vision for every decision. Let's build together not only routes, but certainties.

Looking to the immediate future (2025)

In the coming months, our priorities will be:

• Regional operational consolidation: strengthen Ceuta and Melilla with local resources, documentary flexibility and alternative routes.
• Digitization and traceability: leveraging IoT, predictive systems and real-time visibility on every shipment.
• Strategic expansion: to accompany new logistics projects emerging in 2025 and assess their compatibility with our network. See logistics projects 2025

• Ability to adapt to maritime adjustments: closely monitor the Baleària-Armas operation and changes in island routes.
• Strengthening human capital: retaining key talent, expanding technical training and encouraging commitment in the most vulnerable areas of the chain.
• Transparent communication: we will maintain a fluid channel with clients, collaborators and authorities to explain decisions and adjustments clearly.

I am confident that 2025 will be a year of reinforcement, not just reaction. The structures we build now will define our resilience to major changes. Logistics Express aspires to be a reference in national logistics, with special attention to Ceuta, Melilla and the areas where we operate with complexity.

I am attentive to your concerns, proposals or route or service requirements. I invite you to contact us here if you wish to talk directly.

Dirk Manuel Martens Jiménez
General Manager - Logistics Express